The European Bank for Reconstruction and Development (EBRD) said it will lend €60mn to Eastern European Electric Company B.V., a fully owned subsidiary of financial and insurance group Eurohold Bulgaria, which will be used for the acquisition of the local assets of Czech CEZ Group.
Part of the sum also will be spent on CEZ Razpredelenie Bulgaria AD's 2022-2024 digitalisation and distribution network upgrade programme.
The loan will have a five-year repayment period, the EBRD said but gave no further details.
Earlier in 2021, Eurohold was allowed to acquire the local assets of Czech company CEZ, financing the deal with its own funds and bank loans.
Eurohold has said that it will raise up to €100mn in a capital hike to fund the acquisition of the assets, with the total value of the deal being €335mn.
In April, the company said that it has mandated J.P. Morgan AG to act as its lead and exclusive arranger for structuring the debt financing of the deal for the acquisition of the CEZ’s local business.
Related Articles
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more